World View & Market Commentary. Forest first; Trees second. Focused on Real & Knowable facts that filter through the "experts" fluff and media hyperbole. Where we've been, what the future may hold and developing a better way forward.

Wednesday, February 4, 2009

This is exactly the type of Pigman maneuver I would expect from Goldman Sachs on the day that executive compensation limits are placed on their butts! So, all of a sudden they see the ability to raise new funds? THIS IS OUTRAGEOUS. Obama’s hand grenade smoked some of the rats out of their hole, I say that’s the most positive thing I’ve seen in awhile! Gee, I think I found a picture of the GS CFO! Where’s the outrage? These guys need to be in prison.

NEW YORK (MarketWatch) -- Goldman Sachs Chief Financial Officer David Viniar said Wednesday that the firm would like to buy back an investment made in it by the Treasury under the government's Troubled Asset Relief Program as soon as possible, but there are certain restrictions and nuances to doing it. Goldman likely needs to raise Tier 1 capital before it would qualify to buy back the investment, and that could be accomplished via a common or preferred stock offering, Viniar said. The CFO made it clear though that despite rumors in the market; he is not saying that the firm is planning a large common offering in March. He added that Goldman would only pay the money back with the blessing of the Fed and the Treasury.

I’d love to see Congressional hearings on Hank Paulson’s and GS’s involvement in selling bogus MBS derivatives around the world, throwing lavish parties for the salesmen who took advantage of the “suckers,” and then placed bets against the very derivatives they were selling! This company is the worst of the worst, but JPM is derivative and stinky mess central. Both need to disappear. When they are gone, then we can work on developing a system that is free of corruption and works for the PEOPLE instead of the Pigmen central bankers. Radical? Give it a few more months to sink in, it won’t seem so then.